Archive: October 1, 2021

Diversified Co., PKH Ventures files its IPO Papers

Chennai, 01. Oct 2021: PKH Ventures Ltd, a diversified company undertaking business in three verticals, namely, Construction & Development, Hospitality and Management Services is eyeing to raise money from the primary markets. Through its initial public offering it will be offering and aggregate of 29.27 million shares, fresh issue and an offer for sale, at a face value of Rs 5 each. According to market sources, the company looks to raise approximately 500 crs

Proceeds from the fresh issue to the tune of Rs 135.94 crore will be utilised for an investment by way of equity in Halaipani Hydro Project Pvt Limited for the development of a Hydro Power Project; Rs 100 crore will be utilized for an investment by way of equity in Makindian Foods Pvt Ltd towards the development its Amritsar Project- Phase 1; Rs 60 crore for funding in Garuda Construction for funding its working capital requirements besides general corporate purposes.

The company, in consultation with BRLMs, could consider a pre-IPO placement of equity shares up to 2.5 million. The number of equity shares issued pursuant via pre-IPO placement will be reduced from the fresh issue.

Incorporated in the year 2000 by Pravin Kumar Agarwal, it began with offering management services at several airports, currently PKH Ventures operates its business under three broad verticals, namely, Construction & Development, Hospitality and Management Services. The debt averse company largely manages its fund requirements through internal accruals. Its debt to asset ratio stood at 0.16 as on March 31, 2021.

Its Construction & Development projects include residential, commercial buildings and miscellaneous construction projects like Amritsar Project, Punjab; Halaipani Hydropower Plant, Arunachal Pradesh; Food Park at Jalore, Rajasthan; an entertainment centre at Nagpur, Maharashtra; Cold Storage Project near Indore, Madhya Pradesh and a Wellness Centre and Resort at Chiplun, Maharashtra. At present it has 11 projects under development and looks to focus on BOT and HAM projects, its margin and ROI potential.

The company owns and operates two hotels and manages one resort & spa at Aamby Valley, Lonavala. Additionally, it owns and operates restaurants i.e Balaji, Golden Chariot, Casablanca and manages and operates restaurants under the brand name Zebra Crossing, Hardy’s Burger and Mumbai Salsa.

The company’s order book as of September 24, 2021 stood at Rs. 1174.17 cr. PKH Ventures’ consolidated revenue from operations stood at Rs 241.51 crore up from Rs 165.89 crore a year ago. Consolidated net profit for the period stood at Rs 30.57 crore versus Rs 14.09 crore last year.

Monarch Networth Capital Limited is the book running lead manager to the issue. Link Intime has been appointed as the registrar to issue. The equity shares of the company would be listed on BSE and NSE.

T-Hub Inks MoU with Redberri Earth Foundation under its T-Bridge Initiative

T-Hub, which leads India’s pioneering innovation ecosystem, today announced that it has signed an MoU with Redberri Earth Foundation, a US-based non-profit organization under its T-Bridge initiative. The partnership will aim to understand market opportunities for Indian startups in the US market. T-Hub and Redberri will provide Indian and Chicago startups with business opportunities, market understanding and access to clients in Chicago and India, respectively. The two entities will collaborate in the areas of startup innovation and entrepreneurship.

The partnership was formalised virtually with an MoU signed by Ravi Narayan, CEO of T-Hub and Deepak Kant Vyas Chairman and CEO of Redberri Earth Foundation.

This partnership will help the startups and support T-Hub in creating a strong foothold in Chicago startup and innovation ecosystem. T-Hub will receive the below benefits:

• Access to space and infrastructure in the Chicago area.
• Access to select technology conferences and events.
• Connects with the Chicago-based research universities, technology industry associations, chambers of commerce, US Government grant agencies to provide research, marketing, and financial support to the T-Bridge Program.
• Opportunity to partner with leading incubators and accelerators in the US and worldwide.

Ravi Narayan, CEO of T-Hub, said, “This partnership will enable us to deliver knowledge and support not just to the Indian startups for their business expansion in the international market but also will welcome US-based startups to set up and scale-up in the rapidly growing but complicated Indian market. Together we will ensure that our high-potential startups have the end-to-end support and guidance as they prepare to launch their business in new global markets driven by innovation.”

T-Hub, in partnership with Redberri, aims to establish structured market access programs and soft-landing programs, which will help nurture the startup ecosystem in the US and India. The program will run virtually first with rich curriculum of online activities like webinars and roundtables, and gradually startups will be localised in North America and India. Indian startups will be incubated with Redberri in Chicago and US startups will be incubated with T-Hub in India.

Deepak Kant Vyas Chairman and CEO of Redberri Earth Foundation said, “T-Hub is a valuable partner to help the US startups to scale in a new market and experience India’s exceptional entrepreneurial ecosystem. We are also looking forward to enabling Indian startups to gain a strong foothold in the US market and connect them to the larger international players to enhance their growth journey. The startups will benefit greatly from the strategic workshops and interventions provided under this partnership to access both the markets and explore business opportunities. Redberri Innovation Center is proud to partner with T-Hub.”

This year-long fruitful partnership, under the T-Bridge program will give opportunity to the Indian startups to tap into one of the fastest growing startup ecosystems in the U.S. T-Hub will initiate the call for applications for Indian startups from the smart mobility and transportation ecosystem to participate in this opportunity. After a thorough screening process, six high potential and growth startups will be selected based.

Similarly, T-Hub will open doors for the Silicon Valley-based startups to tap into the Indian market and will create ample opportunities for selected 20 startups to explore business opportunities. For the same, Redberri will call for applications from early growth to mid-stage startups based in the Chicago specifically from sectors like smart mobility and transportation and other future relevant deep technology areas. The startups will be curated based on existing traction and proven month-on-month growth, proven business model with high factor of transferability to India, prior venture capital investment or funding acquired and readiness to engage in PoCs (Proof of concepts) and partnerships. The program will have two cohorts with 10 Silicon Valley based startups in each.

Program structure will include two months of market feasibility study, six months on incubation and market localisation, and four months of post program support to establish trails and Proof-of-Concepts in the new market.

Indian Startups must meet the following eligibility criteria to apply:

• Technology startups that have raised investments of at least $3mn.
• Product/ solution is market ready and being sold in home market or elsewhere.
• Proven distribution model in home or other markets.
• At least one founder needs to be present during the program, different interventions might require product manager, sales and/ or technical and operational specialist to attend the program virtually or physically.
• Willingness to invest time and resources to enter the U.S. market.
• At least one team member needs to be present during all in-country interventions.
• Benefits that the startups will receive from the program include:

Support in product localisation, business model validation for the market and understanding of the local business culture.

• Access to personal mentors and Entrepreneur-in-Residence throughout the program.
• Access to corporate partners, industry leaders, government engagement, demo days, media activities and networking events.
• Provision of a co-working space at T-Hub.
• Provision of a co-working space by Redberri.
• No equity taken.

T-Bridge initiative aims to help startups scale globally through various programs and access Indian market and other emerging geographies. T-Hub has provided market access to 300+ Indian startups with 18+ international interventions It has conducted more than 10 market access program and facilitated 200+ international startups from more than 40 countries. T-Hub will continue to drive collaboration between startups and leading innovation ecosystems across the world, providing global market-access opportunities to startups. For more information about the program, visit https://t-hub.co/t-bridge-international-programs/.

The Heartfulness Peace Anthem Launch on International Day Of Peace

Heartfulness launched the Heartfulness Peace Anthem in continuation to its celebrations around the International Day of Peace. Ricky Kej, Shibani Kashyap, Dr. Nivedita Shreyans (Director-Heartfulness), Rishabh Kothari (Director-Heartfulness) addressed the media and the launch of the anthem.

The Heartfulness Peace Anthem composed by Grammy award winner Ricky Kej and renowned vocalist Lonnie Park, and sung by Lonnie Park, heralds the message of peace bringing peoples of the world together. The female voice version has been rendered by Shibani Kashyap.

The song reminds us that ‘we are not strangers but neighbours, kindered souls’ and that love only flourishes when you spread it around the world. The beauty of the video is in bringing people of various diversities getting over any discrimination – nationality, caste, creed or gender – and showcases the serenity of the locales in and around the Heartfulness Headquarters ‘Kanha Shanti Vanam’ near Hyderabad. The spectacular visuals, the beautiful children playing on the trampoline carefree, and a diverse group of people chorusing simply drive home one point – global peace.

The Peace Anthem has been released across all audio and video platforms with the objective of spreading the message of Heartfulness through music. The song has some Sanskrit woven in the lyrics to emphasise that peace has always been the need from ancient to modern times.

Speaking of the anthem launch Ricky Kej says, “I am thrilled to support the noble mission of Heartfulness through my music. To bring people together has been the objective of Heartfulness, and considering their themes of peace, love, togetherness, it was easy for me to create the Heartfulness Anthem. I am glad to have partnered with singer/songwriter Lonnie Park from New York on this song, and also with Shibani Kashyap, whose music I have admired for many years. Together we have created a timeless anthem, and hope it inspires compassion, empathy and peace.” Lonnie Park added, “I was super-excited with the prospect of doing something for a peace project. After all, what better a medium can there be than music to spread peace. Plus, we had a whale of a time with good folks in putting together the song and video with some stunning visuals.”

Bollywood Singer Shibani Kashyap has to say, “I am absolutely thrilled and delighted to be a part of the Heartfulness Peace Anthem! It was a joyful experience to work with the renowned composer Ricky Kej. The song represents and communicates the message of Heartfulness meditation brilliantly as envisioned by Daaji. Through this song we hope it will truly communicate this message of joy and peace. The Lyrics are beautiful and simple and very effective and the tune is catchy soulful and leaves you joyful!” Shibani is an avid practitioner of Heartfulness Meditation having been initiated into it recently yet experiencing a significant impact on her way of life.

Rishabh Kothari, Director-Heartfulness says, “Peace within is peace without. We at Heartfulness, under the aegis of Daaji, have always been motivated spread peace and happiness. By launching the Peace Anthem, we are only going one step ahead in promoting peace and we are very elated to have the Ricky Kej, Lonnie Park, Shibani Kashyap join us here. We hope that the anthem strikes a chord with all audiences.”

Spotlight on Building holistic health: Tetley Green Tea Immune Sets Focus on Inner Wellbeing

National, 1st Oct 2021: Consumer focus on health and wellness has grown exponentially as the need to look fit has become aspirational among many people. But all the buzz around external appearance of fitness, may have led us to lose focus on inner wellbeing. As the world settles into the new normal, it’s time to bring the discussion back to internal health and wellbeing to the center stage. Tetley Green Tea Immune brought together Malaika Arora, Actor & Fitness Enthusiast, Drashti Dhami, Actor, Celebrated author and Nutritionist Kavita Devgan and Mr. Puneet Das, President Packaged Beverages (India and South Asia), Tata Consumer Products for a virtual discussion on need to feel #LagoBaaharSeFitAurAndarSeBhi

Tetley Green Tea Immune is one of TATA Consumer Products’ key innovations in the wellness segment keeping evolving consumer needs in mind. Green tea is mostly thought of as a hot beverage which may help in external fitness of that of staying in shape. Tetley Green Tea Immune has goodness of green tea along with Vitamin C which helps support immunity.

Tetley Green Tea Immune brings the focus on internal wellbeing with its latest offerings which has anti-oxidants that helps cleanse the body from within along with added Vitamin C known to aid in supporting the body’s immune system. Apart from the classic green tea immune – Tetley Green Tea Immune is available in exciting flavors of Lemon & Honey, Ginger, Mint & Lemon and the Naturally Sweet with Mango flavour, Speaking on the subject, Puneet Das, President – Packaged Beverages (India and South Asia), Tata Consumer Products said, “We are seeing an acceleration of health & wellness trend among consumers. Our campaign on Tetley Green Tea Immune, uses a visual devise of ‘Bubble’ as to highlight the feeling of doubt/anxiousness that people are feeling regarding their fitness. With a holistic view of fitness, we wanted to burst this bubble of doubt in the consumers mind as we highlight that being fit is not just on the outside but being fit on the inside too. Through this #LagoBaaharSeFitAurAndarSeBhi discussion with the best of fitness enthusiasts, we aim to encourage consumers to give equal importance to inner wellbeing, instead of just focusing on physical appearance and the outward aspects of fitness. Tetley Green tea Immune is an innovative product with added vitamin C which will be an enabler in feeling fit from the inside.”

Commenting on the panel discussion Malaika Arora said- “For me, internal fitness weighs over external appearance. The step towards a healthier you will always be one at a time. I always urge people to opt for heathier choices and watch what you consume as part of your daily diet. Tetley Green Tea Immune is my go to drink between shoots or my meetings. I think it helps me detoxify my body from within and now with added Vitamin C it could be an enabler in feeling fit from the inside. ! Time to change our #fitnessgoals to #innerfitnessgoals because aabh lago bahar se fit aur andar se bhi!”

Drashti Dhami, a lover of all things green and easy to consume states, “In a world which focuses just on external appearance, its time we all change the focal lens towards feeling internally fit as well! Inner Fitness should be well understood, accessible and actionable as physical fitness. We all have a tough lifestyle, accompanied with stress and strains, the requirement is not to look fit but actually feel fit from within. I often reach out to Tetley Green Tea Immune for my go-to drink right after my meals, it’s my everyday 4pm cup of wellbeing! High time we change the tide of trend towards inner fitness feels and let’s take the first step with one cup of Tetley Green Tea Immune”

“Inner wellness is far more than our external appearance important. The pandemic has taught us this lesson well. For this, we need to include the right foods and nutrients in our diet on a daily basis. Vitamin C is known to support immunity, and antioxidant-rich foods help scavenging free radicals . That is why Tetley green tea immune , rich in antioxidants and with added vitamin C is such a winning combination”, says, Kavita Devgan, Author and Nutritionist at Tata Consumer Products.

Max Life Insurance’s AUM crosses INR 1 Lac Crores; Grows over 6 times in last 11 fiscals+

Bangalore 30th September 2021: Max Life Insurance Co. Ltd. (“Max Life”/ “Company”), has scaled a significant business milestone by achieving INR 1 Lac crores of Assets Under Management (AUM) as of September 23rd, 2021. With an inordinate focus on financial protection, product innovation, and digitization aimed to deliver a superior customer experience, the Company has witnessed a notable six times growth in its annualized AUM over the past eleven fiscals+.

As per IRDAI’s valuation guidelines, in the past ten years, Max Life’s AUM has grown from INR 17.2 thousand crores in FY 11-12 to cross INR 1 Lac crore in the current fiscal*. With value-add products and meaningful improvements across customer services, Max Life’s AUM growth has witnessed a 32% growth in FY20-21, and 22.9% growth in the current fiscal, as on September 23rd, 2021 respectively.

Prashant Tripathy, MD & CEO, Max Life said, “The milestone achievement of INR 1 Lac Crore of Assets under Management (AUM) is a testament to our commitment that has helped deliver exceptional performance over a decade. The stellar growth has continued into the pandemic times as well, with our highest-ever individual new business sum assured and a decade-high private market share in terms of Individual adjusted FYP. With strategic efforts to boost product innovation, agency distribution, better claims management, and conformity to regulatory trends, Max Life is poised to capitalize on emerging opportunities and take the business to the next pedestal.”

In face of the COVID-19 pandemic-induced business challenges, Max Life has managed to stay the course efficiently where the AUM growth has been driven by an engaged focus on long-term saving and protection business. As per public disclosures, during FY20-21, Max Life continued its strong run by registering a 22% growth in total new business premium (Individual + Group), and a 19% growth in individual adjusted first-year premium. This helped the firm secure a 10.8% market share amongst the private players in terms of individual adjusted first-year premium. Further, the renewal premium income (including group) grew by 15%, taking gross written premium to INR 19,018 crore, an increase of 18% over the previous financial year. Max Life has also achieved claims paid ratio of 99.35%, paying death claims worth INR 885.57 crore during the Financial Year 2020-21. The focus on customer loyalty has been underlined by the Company achieving the joint #1 ranking in an independent survey conducted by Kantar where it leads with most loyal customer base in the Indian private life insurance industry during the Covid-19 pandemic.

Despite the COVID-19 second wave, the growth trend has continued in Q1 FY22. In the quarter, as per public disclosures, Max Life registered a growth of 27% in gross written premium, with a 21% increase in renewal premium. This has helped the firm record a 32% growth in individual Annual Premium Equivalent (APE), with its market share improving to 11.3% in the private life insurance industry (Ind. Adj. FYP).

+ As per public disclosures

* as of September 23rd, 2021